HOTEL INVESTMENT AND FINANCING: A CALL FOR SHARĪʿAH CONSIDERATION AND NEW METHODOLOGY OF ASSESSMENT AND SCREENING

The objective of this paper is to initiate a debate on the issue of investment in and financing of the hotel business. The motive behind the discussion is the fact that the hotel business, as a stand-alone activity, is considered a Sharīʿah non-compliant asset and is listed in the negative list in Malaysia. Hence, as a general Sharīʿah rule, it is not allowed to invest in the hotel business or provide financing to it as a stand-alone entity.